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BUSINESS DIGEST

President Clinton told executives and lobbyists face to face that he would propose an increase in the top corporate income tax rate and a limit on the breaks companies receive for executives' salaries. [ Page A1. ] The effects of a plan to limit tax deductions for seven-figure salaries would probably be more political than economic, some experts on executive compensation said. [ A24. ]

Federal trade officials should establish market-share targets for American exports, the chairmen of some of the nation's largest corporations said in a report. [ D1. ] The new U.S. trade representative said the Administration would seek new authorization to negotiate trade agreements and submit them to Congress for expedited consideration without amendments. [ D2. ]

General Motors reported a $23.5 billion loss for 1992, by far the largest ever posted by a U.S. corporation. But most of the loss stemmed from accounting changes. [ D1. ] G.M. rescinded its ban on advertising on NBC News, saying it was satisfied with the network's apology for the handling of a report on G.M. pickups. [ A14. ]

Sears said it would spend $4 billion in the next five years to give its 800 stores face lifts and to refocus its selling efforts. [ D1. ]

A committee advising the F.C.C. on high-definition television concluded that all five of the systems competing to be picked as the United States' standard are flawed. [ D2. ]

The industrial town of Dubnica embodies the economic perils and promise that confront the Slovak Republic as it tries to weather the transition to a free market economy. [ D1. ]

Markets

The Treasury's auction of 30-year bonds went well, sparking a rally that turned a so-so three-day auction into a better one. [ D12. ] Completion of the Treasury's quarterly refunding lifted some of the apprehension that has hung over the stock market. Blue-chip issues led the market as the Dow rose 10.27 points. [ D4. ] The dollar fell against most currencies but rose against the Japanese yen. [ D14. ] Coffee prices rose after Brazil reported January exports fell more than 70 percent. [ D14. ] Today's Columns

A little-known shop is riding off with its second automotive client. Mullen Advertising, which already handles Rolls-Royce, won the prestigious BMW account. Stuart Elliott: Advertising. [ D1. ]

Investors awarded Wilt Chamberlain Restaurants the equivalent of a technical foul. Shares of the basketball star's company behaved like an air ball almost as soon as they began to trade. Kurt Eichenwald: Market Place. [ D4. ]

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